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What is Optimism?
Optimism (OP) is the governance token of the Optimism network, a Layer 2 scaling solution for Ethereum. It utilizes optimistic rollups to enable faster and cheaper transactions while inheriting security from the Ethereum mainnet.
Key Features of Optimism
- Scalability: Optimism addresses Ethereum’s scalability limitations by processing transactions off-chain (Layer 2) and periodically settling them on the mainnet.
- Security: Optimism leverages Ethereum’s security for a robust and secure environment.
- Decentralized Governance: OP token holders play a vital role in governing the Optimism network through voting on upgrades, fees, and other critical decisions.
Uses of OP Token
- Governance: OP holders can participate in shaping the future of the Optimism ecosystem by voting on proposals.
- Potential Fee Reduction: In the future, OP tokens might be used for discounts on transaction fees within the Optimism network (not yet implemented).